The Real Effects of Financial Constraints: Evidence from a Financial Crisis

By Murillo Campello, John R. Graham, Campbell R. Harvey. 2010

396 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/b9eb539da72738e47b30b252abdf5cca3c28b129

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Citations in the corpus

Capital misallocation in China: Financial frictions or policy distortions? (2018, neutral): “It also started to appear in many other areas of economics, such as international economics (Chang and Lee, 2011), monetary economics (Angrist and Kuersteiner, 2011) and financial economics (Campello et al., 2010).”
The Effect of Accounting Conservatism on Corporate Investment during the Global Financial Crisis: THE EFFECT OF ACCOUNTING CONSERVATISM (2016, positive): “Consistent with prior literature, we find that firms experienced a decline in their investment when hit by the financial crisis (Campello et al. 2010; Duchin et al. 2010).”
Spillover Effects among Financial Institutions: A State-Dependent Sensitivity Value-at-Risk Approach (2014, neutral): “While the literature generally tends to agree that hedge funds are systemically important and that this importance is likely to increase in the future (Danielsson, Taylor, and Zigrand (2005), Garbaravicius and Dierick (2005), Kambhu, Schuermann, and Stiroh (2007), and Chan et al. (2006), among other”
Financial flexibility, corporate investment and performance: evidence from financial crises (2013, neutral): “…studies emphasize the importance of obtaining financial flexibility through low leverage policies (Billet et al. 2007; Byoun 2008; Lins et al. 2010; Campello et al. 2010) or moderate/high cash balances (Opler et al. 1999; Billet and Garfinkel 2004; Almeida et al. 2004; Acharya et al. 2007;…”
A theory of corporate financial decisions with liquidity and solvency concerns (2011, neutral): “Direct evidence on the significance of financial constraints, especially for firms in distress, is provided by, e.g., Holtz-Eakin, Joulfaian, and Rosen (1994), Zingales (1998), and Campello, Graham, and Harvey (2010).”
The Benefits of Conservative Accounting to Shareholders: Evidence from the Financial Crisis (2013, neutral): “…and that firms are generally credit constrained and usually lack investment opportunities during crisis periods (Ivashina and Scharfstein 2010; Campello et al. 2010), the impact of conservatism on these real activities could become especially important in reducing the loss of firm value…”
Costly external finance, corporate investment, and the subprime mortgage credit crisis (2010, neutral): “Evidence of tighter lending standards and withdrawn lines of credit abounds.1 In addition, loan spreads suddenly skyrocketed when the crisis began in August 2007, as shown in Fig.”